Tractor Supply Kicks Off 2024 FFA Future Leaders Scholarship Fundraiser

Rhea-AI Summary

Tractor Supply Company (NASDAQ: TSCO) has launched its 2024 FFA Future Leaders Scholarship fundraising drive, aiming to raise $1 million between now and November 10. Customers can donate at checkout in stores or online. The initiative provides $5,000 scholarships for two-year/trade schools and $10,000 scholarships for four-year agriculture-related programs. The 2023 drive raised over $1 million, funding 143 scholarships across 35 states. The program, established in 2022 with a $5 million commitment over five years, has awarded 289 scholarships to date. Recipients can interview for career opportunities at Tractor Supply locations and internships at its Store Support Center.

Positive

• Successful 2023 fundraising campaign exceeded $1 million target
• Strong scholarship program with 289 awards granted to date
• Creates potential talent pipeline through job opportunities for scholarship recipients
• Demonstrates commitment to industry development with $5 million five-year investment

Negative

• None.

Insights

Market Research Analyst

This fundraising initiative, while commendable for its social impact, has minimal direct financial implications for TSCO's stock performance. The $5 million commitment over five years represents a negligible portion of Tractor Supply's annual revenue. However, the program strategically positions TSCO to address critical industry challenges, particularly the worker shortage in agriculture and skilled trades. The scholarship program creates a talent pipeline for TSCO's retail operations and strengthens relationships with the agricultural community - their core customer base. The initiative's success in raising over $1 million in 2023 demonstrates strong customer engagement, though this represents a small portion of overall business metrics.

Donations will support students pursuing in-demand skilled trades and agriculture-related majors

BRENTWOOD, Tenn.--(BUSINESS WIRE)-- Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, and the Tractor Supply Foundation announced today the launch of the 2024 FFA Future Leaders Scholarship fundraising drive. The money raised will fund scholarships for FFA students pursuing a skilled trade or majoring in an agriculture-related field. The Tractor Supply Foundation established the FFA Future Leaders fund in 2022 with a $5 million commitment over five years, making it the largest agriculture scholarship of its kind.

Tractor Supply Kicks Off 2024 FFA Future Leaders Scholarship Fundraiser (Photo: Business Wire)

Beginning today and extending to November 10, customers can donate at checkout in Tractor Supply stores or online at TractorSupply.com to support the Company’s goal of raising $1 million. The funds will be used to support $5,000 scholarships for students attending two-year or trade schools and $10,000 scholarships for students pursuing agriculture-related studies in four-year programs. In partnership with the National FFA Organization, the Tractor Supply Company Foundation is underwriting the scholarship.

“As we enter our third year of the FFA Future Leaders Scholarship fundraiser, we are energized and inspired by the passion our customers and Team Members demonstrate for the future prosperity of Life Out Here,” said Marti Skold-Jordan, executive director of the Tractor Supply Foundation and National FFA Foundation Sponsors’ board member. “With this scholarship, we are proud to have helped bring hundreds of young people closer to achieving their goals, and are hopeful that, together, we can support hundreds more in the years ahead.”

The 2023 Future Leaders fundraising drive raised more than $1 million, generating scholarships for 143 FFA students representing 35 states. In its first two years, the FFA Future Leaders Scholarship Fund awarded 289 scholarships to students pursuing a wide range of agriculture-related studies and trade professions, from animal science and agricultural education to agricultural mechanics and welding. Recent scholarship recipients include:

• Emma Bangart from Stratford, Wisconsin, a junior at the University of Wisconsin - River Falls pursuing a degree in dairy science.
• Hannah Gideon from Russell, Kansas, a freshman studying environmental geoscience at Fort Hays State University.
• Alecia Gonzalez from Willow Creek, Montana, who is pursuing a certificate in welding from Highlands College of Montana Tech.
• Braedon Raven from Houston, Texas, a sophomore at Texas A&M University studying agricultural systems management with plans to be an engineer.
• Katelynn Sauers from Millmont, Pennsylvania, who is attending Pennsylvania College of Technology to study floriculture.
• Seth Timm from Boonville, Missouri, who is pursuing an associate’s degree in civil engineering at State Technical College of Missouri.

Scholarship recipients will have the opportunity to interview for career opportunities at Tractor Supply stores or distribution centers while pursuing their education. Additionally, Tractor Supply has earmarked internships at its Store Support Center in Brentwood, Tennessee, for scholarship recipients.

The Tractor Supply Company Foundation established the FFA Future Leaders scholarship fund to support students interested in fields that continue to face severe worker shortages. Despite a recent surge in enrollment in community college and vocational programs, worker shortages remain as perceived stigma associated with choosing vocational school over a traditional four-year university persists among members of Gen Z. There are also millions of agriculture jobs that need to be filled as workers age out of the workforce and the next generation leaves family farms behind.

“We know our students play a key role in today’s talent pipeline,” said Molly Ball, president of the National FFA Foundation and chief marketing officer of the National FFA Organization. “They are our current and future leaders, and our corporate partners’ support of their education is key to helping our more than a million students achieve career success.”

Tractor Supply is the largest funder of FFA and has supported the organization through various fundraising initiatives since 1985. FFA is a dynamic youth organization committed to preparing members for premier leadership, personal growth and career success through agricultural education with more than 1 million members and nearly 9,000 local chapters across the nation. Additionally, the FFA alumni network is made up of more than 704,000 members today.

Applications for 2025-2026 scholarships open on November 1 and extend through January 9. To apply, visit ffa.org/participate/grants-and-scholarships/.

About Tractor Supply Company

For more than 85 years, Tractor Supply Company (NASDAQ: TSCO) has been passionate about serving the needs of recreational farmers, ranchers, homeowners, gardeners, pet enthusiasts and all those who enjoy living Life Out Here. Tractor Supply is the largest rural lifestyle retailer in the U.S., ranking 293 on the Fortune 500. The Company’s more than 50,000 Team Members are known for delivering legendary service and helping customers pursue their passions, whether that means being closer to the land, taking care of animals or living a hands-on, DIY lifestyle. In store and online, Tractor Supply provides what customers need – anytime, anywhere, any way they choose at the low prices they deserve.

As of September 28, 2024, the Company operated 2,270 Tractor Supply stores in 49 states. For more information on Tractor Supply, visit www.tractorsupply.com.

Tractor Supply Company also owns and operates Petsense by Tractor Supply, a small-box pet specialty supply retailer providing products and services for pet owners. As of September 28, 2024, the Company operated 205 Petsense by Tractor Supply stores in 23 states. For more information on Petsense by Tractor Supply, visit www.Petsense.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241031625714/en/

Tricia Whittemore (615) 440-4410

Mary Winn Pilkington (615) 440-4212

corporatecommunications@tractorsupply.com

Source: Tractor Supply Company

FAQ

How much is Tractor Supply (TSCO) aiming to raise in the 2024 FFA Future Leaders Scholarship fundraiser?

Tractor Supply is aiming to raise $1 million in the 2024 FFA Future Leaders Scholarship fundraiser.

What is the scholarship amount offered by Tractor Supply (TSCO) for FFA students?

Tractor Supply offers $5,000 scholarships for two-year or trade schools and $10,000 scholarships for four-year agriculture-related programs.

How many scholarships did Tractor Supply (TSCO) award in 2023?

In 2023, Tractor Supply awarded 143 scholarships across 35 states through the FFA Future Leaders Scholarship program.

When is the application deadline for Tractor Supply's (TSCO) 2025-2026 FFA scholarships?

Applications for 2025-2026 scholarships are open from November 1 to January 9.